BUSINESS AND TECH NEWS

Samsung to permanently discontinue Note 7 device

Tech giant Samsung has announced it will permanently discontinue production and sales of the Galaxy Note 7 smartphone. The device has been the centre of controversy since it went on release on September 2nd.

In a statement from it's Seoul office, Samsung Electronics said it will permanently cease sales of the device. This comes just one day after it announced a temporary halt in production.

"Taking our customer's safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7," the company said.

This comes as Samsung shares tumbled 8%, its the biggest one-day decline in eight years.